The News Agency of Nigeria reports that the official interbank rate, however, remained at N197
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The News Agency of Nigeria reports that the official exchange rate at the interbank window remained at N197 to the dollar
The prosecutor, Umoh Inah, told the court that the convicts were arrested by police operatives of the State Intelligence Bureau, FCT Command on September 21
The News Agency of Nigeria reports that in spite of the bi-weekly sale of forex to operators of Bureau de Change by the Central Bank of Nigeria, the naira continued to depreciate
Traders at the parallel market told the News Agency of Nigeria in Lagos that the demand for the dollar had been putting pressure on the naira, forcing it to depreciate in value
The Naira gained N1 as it exchanged for N224, as against N225 it traded last week
The Naira lost N0.5 in the afternoon as it exchanged for N225.5 against the dollar, slightly less than its previous value of N225
In the same vein the naira also appreciated in value at the official interbank rate as it gained N0.02 to trade at N196.98 as against its previous value of N197
It was traded at N226 to the dollar in Lagos on Friday, down from N224 last week
A financial analyst, Prof. Sheriffadeen Tella of the Department of Economics, Olabisi Onabanjo University, Ago-Iwoye, Ogun State, attributed the current fluctuation in the parallel market to the activities of currency speculators
A parallel market trader, Abubakar Audu, told the News Agency of Nigeria in Lagos that the position of the Naira was after the Central Bank of Nigeria sold Dollars to operators of Bureau de Change
The News Agency of Nigeria reports that the official interbank exchange rate, however, remained at N197 to the Dollar
The shared amount comprised the Month’s Statutory revenue of N324.061 billion and N6.330 billion was again refunded to the Federal Government by the Nigerian National Petroleum Corporation
The Naira also lost N27 to sell at N352 to the pound, representing 8.31 per cent depreciation from the N325 it traded on June 15
At the same segment, the Naira appreciated by N5 against the pound to sell for N325 from N330 since June 12
The suspects were picked up by operatives of the anti-graft agency for stealing and putting into circulation defaced and mutilated Nigerian currency notes to the tune of N8 billion meant for destruction
Also, at the official market, the Naira depreciated against the pounds, selling at N299.72k compared with the N297.35k it traded on May 4
But the journey to achieving this feat may be rough but with good transformation agenda, it is achievable, Oputa said
“Based on the above provision, the general public is hereby warned that it is illegal to price or denominate the cost of any product or service (Visible or Invisible) in any foreign currency in Nigeria
Similarly, the Naira stood firm against the dollar at the black market as it gained 50 kobo to sell at N225.50 compared with N226 traded on March 17